RESOLVED
that the Permanent University Implementing Procedures for Medical
Center Procurements are revised (see Attachment) to correct
outdated titles and terminology, increase the threshold for
small procurements and sole-source justifications from $30,000
to $50,000, and provide for emergency procurement authority.

CONFLICT
OF INTEREST EXEMPTION: GENEURON

THERAPEUTICS,
INC.

The
President will propose the adoption of the following resolution:

WHEREAS,
the School of Medicine wishes to enter into sponsored research
contracts with GeNeuron, Inc., for developing biologically enhanced
devices for treatment of neurovascular disease; and

WHEREAS, the Universitys entry into research agreements
with GeNeuron Therapeutics, Inc., would thereby expose Mr. Hankins,
Dr. Helm and Dr. Kallmes to violation of the Virginia Conflicts
of Interest Act unless approved by the Board as permitted by
§2.1-639.6(c) (7) of the Code of Virginia;

Item
1.b. continued, Item 1.c.2.

RESOLVED that the conflict of interest of Gerald R. Hankins,
Ph.D., Gregory A. Helm, M.D., and David F. Kallmes, M.D., is
approved by the Board of Visitors in order to permit the University
to enter into agreements with GeNeuron, Inc., for research funding
for the development of biologically enhanced devices for treatment
of neurovascular disease; provided, as required by the law,
Mr. Hankins, Dr. Helm, and Dr. Kallmes file the required annual
disclosure statement of personal interests in GeNeuron Therapeutics,
Inc., the University files the required annual report concerning
the contracts with the Secretary of the Commonwealth, and the
Associate Dean for Research vigilantly oversees application
of University resources in the best interests of the University
and in accordance with policy.

CONFLICT
OF INTEREST EXEMPTION:

RESPIRATORY
RESEARCH, INC.

The President will propose the adoption of the

following
resolution:

WHEREAS, the School of Medicine wishes to enter into a contract
with Respiratory Research, Inc. to purchase a device to assist researchers
in the development of technology and medications for the treatment
of asthma and tuberculosis; and

WHEREAS,
Benjamin Gaston, M.D. and John Hunt, M.D., have disclosed in advance
their equity interests of 9.4 and 43.4 percent, respectively, in
Respiratory Research, Inc.; and

WHEREAS the Universitys entry into a contract

with
Respiratory Research, Inc. would thereby expose Drs. Gaston and
Hunt to violation of the Virginia Conflicts of Interest Act unless
approved by the Board as permitted by §2.1-639.6(c) (7) of
the Code of Virginia;

RESOLVED
that the conflict of interest of Benjamin Gaston, M.D., and John
Hunt, M.D., is approved by the Board of Visitors in order to permit
the University to enter an agreement with Respiratory Research,
Inc. to purchase a device to be used for the development of technology
for the treatment of asthma; provided, as required by the Virginia
Conflict of

Item
1.c. continued, Item 1.d. 3.

Interests
Act, the faculty file the required annual disclosure statement of
personal interests in Respiratory Research, Inc., the University
files the required annual report concerning the contact with the
Secretary of the Commonwealth, and the relevant department chair
vigilantly oversees application of University resources in the best
interests of the University and in accordance with policy.

CONFLICT
OF INTEREST EXEMPTION: APACHE

MEDICAL
SYSTEMS

The
President will propose the adoption of the

following
resolution:

WHEREAS,
the School of Medicine wishes to enter into a sponsored research
contract with Apache Medical Systems, Inc. for activities that would
assist in the development and validation of statistical and mathematical
decision support models for cardiovascular diseases, HIV, cancer
and womens health issues; and

WHEREAS, William A. Knaus, M.D. has disclosed in advance his equity
interests of 5.8 percent, in Apache Medical Systems Inc.; and

WHEREAS,
the Universitys entry into a research agreement with Apache
Medical Systems, Inc. would thereby expose Dr. Knaus to violation
of the Conflicts of Interest Act unless approved by the Board as
permitted by §2.1-639.6(c) (7) of the Code of Virginia;

RESOLVED that the conflict of interest of William A. Knaus, M.D.,
is approved by the Board of Visitors in order to permit the University
to enter into an agreement with Apache Medical Systems, Inc. for
activities that would assist in the development and validation of
statistical and mathematical decision support models for cardiovascular
diseases, HIV, cancer and womens health issues; provided,
as required by the Virginia Conflict of Interests Act, Dr.Knaus,
files the required annual disclosure statement of personal interests
in Apache Medical Systems, Inc., the University files the required
annual report concerning the contract with the Secretary of the
Commonwealth, and the Associate Dean for Research vigilantly oversees
the application of University

Item
1.d. continued, Item 1.e. 4.

resources
in the best interests of the University and in accordance with policy.

e.
APPROVAL OF THE BOARD OF VISITORS

REPRESENTATIVES
TO THE GOVERNING BOARDS

OF
UNIVERSITY-RELATED FOUNDATIONS

The
President will propose the adoption of the following resolution:

RESOLVED
that the following persons be approved as representatives of the
Board of Visitors to the governing boards of the following University-Related
Foundations:

Alumni
Association of the

University of Virginia Gordon F. Rainey, Jr.

Alumni
Board of Trustees of the

University of Virginia Endowment

Fund Robert V. Hatcher, Jr.

University
of Virginia College

Foundation
Timothy B. Robertson

University
of Virginias College at

Wise Foundation Joseph E. Wolfe

University
of Virginia Curry School

of Education Foundation, Inc. Hovey S. Dabney

University
of Virginia Darden School

Foundation Lemuel E. Lewis

Foundation
of the State Arboretum

Blandy Experimental Farm Rebecca D. Kneedler

Healthcare
Partners, Inc. Charles M. Caravati, Jr.

University
of Virginia Health

Services Foundation Harry J.G. van Beek

Historic
Renovation Corporation David W. Carr

Item
1.e. continued 5.

University
of Virginia Law School

Alumni Association and Foundation Mortimer M. Caplin

University
of Virginia McIntire

School of Commerce Foundation Elizabeth A. Twohy

University
of Virginia Medical School

Alumni Association and Foundation Charles M. Caravati, Jr.

Miller
Center Foundation of the

University of Virginia John P. Ackerly, III

University
of Virginia Patent

Foundation
Timothy B. Robertson

University
of Virginia Foundation

and University Real Estate

Foundation John P. Ackerly, III

University
of Virginia Host

Properties, Inc. Robert G. Butcher, Jr.

University
Tax Foundation, Inc. Joseph E. Gibson

Virginia
Ambulatory Surgery, Inc. R. Scott Jones

Virginia
Engineering Foundation, Inc. James E. Ryan, Jr.

Virginia
Student Aid Foundation M. Terry Holland

Virginia
Urologic Foundation William D. Steers

Items
1.f., 1.g., 1.h. 6.

f.
APPROVAL OF ARCHITECT SELECTION FOR

THE
EMMET STREET PEDESTRIAN BRIDGE PROJECT

The
President will propose the adoption of the

following
resolution:

RESOLVED
that Ayers/Saint/Gross, Inc., of Baltimore, Maryland is approved
for the performance of architectural and engineering services for
the Emmet Street Pedestrian Bridge project.

APPROVAL
OF ENGINEER SELECTION FOR THE

DAVIS
ELECTRICAL VAULT PROJECT

The
President will propose the adoption of the

following
resolution:

RESOLVED
that RMF Engineering, Inc., of

Baltimore,
Maryland is approved for the performance of architectural and
engineering services for the Davis Electrical Vault project.

APPROVAL
OF ARCHITECTURAL DESIGN GUIDELINES

FOR
STUDIO ART BUILDING PROJECT

The
President will propose the adoption of the following resolution:

RESOLVED
that the architectural design

guidelines,
dated September 20, 2000, prepared by the Architect for the
University, for the Studio Art Building project are approved;
and

RESOLVED
FURTHER that the project will be presented for further review
at the schematic design level of development.

Items
1.i., 1.j. 7.

APPROVAL
OF PERMANENT EASEMENT FOR VIRGINIA

ELECTRIC
AND POWER COMPANY ACROSS UNIVERSITY OF VIRGINIA PROPERTY LOCATED
AT THE LAMBETH FIELD RESIDENCE AREA

The
President will propose the adoption of the following resolution:

RESOLVED
that the granting of a permanent

easement,
dated September 20, 2000, to Virginia Electric and Power Company
for an underground electric line serving 35 University Circle,
across property owned by The Rector and Visitors of the University
of Virginia, is approved; and

RESOLVED
FURTHER that appropriate officers of

the
University are authorized to execute said dedication and easement.

APPROVAL
OF PERMANENT EASEMENT FOR VIRGINIA

ELECTRIC
AND POWER COMPANY ACROSS UNIVERSITY OF VIRGINIA PROPERTY
LOCATED ON MONROE LANE

The
President will propose the adoption of the

following
resolution:

RESOLVED that the granting of a permanent easement, dated September
20, 2000, to Virginia Electric and Power Company for an electric
line located on the west side of Monroe Lane, across property owned
by The Rector and Visitors of the University of Virginia, is approved;
and

RESOLVED FURTHER that appropriate officers of the University are
authorized to execute said dedication and easement.

Item
2.a.8.

ACTION
ITEMS

APPROVAL
OF BOND ISSUANCE FOR MONROE LANE

RESIDENCE
HALL

The
President will propose the adoption of the

following
resolution:

WHEREAS,
the General Assembly of Virginia passed an act entitled "Commonwealth
of Virginia Higher Educational Institutions Bond Act of 2000" (the
"2000 Act") which has been or is expected to be signed by the Governor;
and

WHEREAS,
the 2000 Act may be repealed but the Project, as defined below,
continues as an authorized project for bond financing through subsequent
legislation (the 2000 Act and any such subsequent legislation, the
"Act"); and

WHEREAS,
pursuant to the Act, the Treasury Board of the Commonwealth of Virginia
(the "Treasury Board") is authorized, by and with the consent of
the Governor, to sell and issue bonds or bond anticipation notes
of the Commonwealth of Virginia for the purpose of providing funds,
with other available funds, for paying the cost of acquiring, constructing,
renovating, enlarging, improving and equipping certain revenue-producing
capital projects at certain institutions of higher learning of the
Commonwealth and for paying issuance costs, reserve funds and other
financing expenses (the "Financing Expenses"), all in accordance
with the provisions of Section 9(c) of Article X of the Constitution
of Virginia; and

WHEREAS,
such revenue-producing capital projects include the Monroe Lane
Student Residence Hall, Capital Outlay Project Number 16385 (the
"Project") for the University of Virginia (the "Institution");
and

WHEREAS,
the Treasury Board is proposing to sell and issue bonds or bond
anticipation notes pursuant to the Act for such revenue-producing
capital projects, in one or more series;

Item
2.a. continued 9.

RESOLVED
that:

Section
1. The Board of Visitors of the Institution (the "Board") requests
the Treasury Board to sell and issue bonds or bond anticipation
notes ("BAN's") in an aggregate principal amount not to exceed $4,800,000
to finance all or a portion of the costs of the Project plus Financing
Expenses (individually, the "Project Bonds" or "Project Notes,"
collectively, the "Project Borrowing"). The Project Borrowing will
be identified by amount by the State Treasurer upon issuance of
any bonds or BAN's.

Section
2. The Board (a) covenants to fix, revise, charge and collect a
housing fee and other rates, fees and charges, for or in connection
with the use, occupation and services of the Project and (b) pledges
such rates, fees and charges remaining after payment of (i) the
expenses of operating the Project and (ii) the expenses related
to all other activities funded by the housing fee ("Net Revenues")
to the payment of the principal of, premium, if any, and interest
on the Project Borrowing. The Board further covenants that it will
fix, revise, charge and collect such rates, fees and charges in
such amounts so that Net Revenues will at all times be sufficient
to pay, when due, the principal of, premium, if any, and interest
on the Project Borrowing and on any other obligations secured by
Net Revenues (such payments collectively the "Required Payments").
The Project Borrowing shall be secured on a parity with such other
obligations so secured by Net Revenues (other than any obligations
secured by a prior right in Net Revenues). Any Net Revenues pledged
herein in excess of the Required Payments may be used by the Institution
for any other lawful purpose.

Section
3. It is hereby found, determined and declared that, based upon
responsible engineering and economic estimates and advice of appropriate
officials of the Institution, as shown on the Financial Feasibility
Study, the anticipated Net Revenues pledged herein will be sufficient
to pay the Required Payments so long as the aggregate amount of
net debt service on the Project Borrowing actually payable in any
bond year does not exceed the amounts assumed in the Financial Feasibility
Study.

Item
2.a. continued10.

Section
4. The Board covenants that the Institution will furnish the Treasury
Board its general purpose financial statements, within 30 days of
their issuance and receipt, audited by a firm of certified public
accountants or the Auditor of Public Accounts which shall include
a schedule of revenues and expenditures for auxiliary enterprise
systems. If Net Revenues are insufficient to pay Required Payments
during such period, the Institution shall provide evidence of a
plan to generate Net Revenues sufficient to make Required Payments
in the future.

Section
5. The Board covenants that so long as any of the Project Notes
are outstanding, the Institution will pay to the State Treasurer,
not less than 30 days before each interest payment date, an amount
estimated by the State Treasurer to be due and payable on such date
as interest on the Project Notes. The Board covenants that so long
as any of the Project Bonds are outstanding, the Institution will
pay to the State Treasurer, not less than 30 days before each interest
or principal payment date, the amount certified by the State Treasurer
to be due and payable on such date as principal of, premium, if
any, and interest on the Project Bonds.

Section
6. The Board hereby approves and authorizes its Executive Vice President
and Chief Operating Officer (officer) to execute and deliver on
behalf of the Institution the Payment Agreement, to be completed
with such changes as the officer of the Institution executing such
Payment Agreement determines to be appropriate and in the best interest
of the Institution.

Section
7. The Board covenants that the Institution will pay from time to
time its proportionate share of all expenses incurred in connection
with the sale and issuance of any series of bonds that includes
Project Bonds or Project Notes and all expenses thereafter incurred
in connection with the Bonds, including without limitation the expense
of calculating any rebate to the United States of the earnings derived
from the investment of gross proceeds of the Bonds, all as certified
by the State Treasurer to the Institution.

Item
2.a. continued 11.

Section
8. The Board covenants that the Institution will not take or omit
to take any action the taking or omission of which will cause the
Bonds to be "arbitrage bonds" within the meaning of Section 148
of the Internal Revenue Code of 1986, as amended, including regulations
issued pursuant thereto (the "Code"), or otherwise cause interest
on the Bonds to be includable in the gross income of the owners
thereof for federal income tax purposes under existing laws. Without
limiting the generality of the foregoing, the Institution will pay
from time to time its proportional share of any rebate to the United
States of the earnings derived from the investment of the gross
proceeds of the Bonds.

Section
9. The Board covenants that the Institution will proceed with due
diligence to undertake and complete the Project and that the Institution
will spend all of the available proceeds derived from the sale of
the Project Borrowing for costs associated with the Project and
appropriated for the Project by the General Assembly.

Section
10. The Board covenants that the Institution will not permit the
proceeds of the Project Borrowing to be used in any manner that
would result in (a) 5 percent or more of such proceeds being used
in a trade or business carried on by any person other than a governmental
unit, as provided in Section 141(b) of the Code, (b) 5 percent or
more of such proceeds being used with respect to any output facility
within the meaning of Section 141(b)(4) of the Code, or (c) 5 percent
or more of such proceeds being used directly or indirectly to make
or finance loans to any persons other than a governmental unit,
as provided in Section 141(c) of the Code. The Institution need
not comply with such covenants if the Institution obtains the written
approval of the State Treasurer and an opinion of nationally recognized
bond counsel acceptable to the Treasury Board that such covenants
need not be complied with to prevent the interest on the Bonds from
being includable in the gross income of the owners thereof for federal
income tax purposes.

Section
11. The Board covenants that for so long as any of the Bonds are
outstanding the Institution will not enter into any operating lease,
management contract or similar agreement with any person or entity,
other than a state or local governmental unit, for all or any portion
of the Project without first obtaining the written approval of the
State

Item
2.a. continued 12.

Treasurer
and an opinion of nationally recognized bond counsel acceptable
to the Treasury Board that entering into such agreement will not
cause the interest on the Bonds to be included in the gross income
of the owners thereof for federal income tax purposes.

Section
12. The Board covenants that for so long as any of the Bonds are
outstanding, the Institution will not sell or dispose of any or
any part of the Project without first obtaining the written approval
of the State Treasurer and an opinion of nationally recognized bond
counsel acceptable to the Treasury Board that such sale or disposition
will not cause interest on the Bonds to be included in the gross
income of the owners thereof for federal income tax purposes.

Section
13. The officers of the Institution are authorized and directed
to execute and deliver all certificates and instruments and to take
all such further action as may be considered necessary or desirable
in connection with the sale and issuance of the Bonds.

Section
14. The Board acknowledges that the Treasury Board will rely on
the representations and covenants set forth herein in issuing the
Bonds, that such covenants are critical to the security for the
Bonds and the exclusion of the interest on the Bonds from the gross
income of the owners thereof for federal income tax purposes, that
the Board will not repeal, revoke, rescind or amend any of such
covenants without first obtaining the written approval of the Treasury
Board, and that such covenants will be binding upon the Board so
long as any of the Bonds are outstanding.

Section
15. This resolution shall take effect immediately.

Item
2.b.13.

b. APPROVAL
OF INSTITUTIONAL PERFORMANCE AGREEMENT

The
President will propose the adoption of the following resolution:

WHEREAS,
item 131 of the 2000 Appropriation Act requires the Secretary of
Education to recommend to the Chairmen of the Senate Finance Committee
and House Appropriations Committee those institutions that are ready
to proceed with an institutional performance agreement (IPA) by
December 1, 2000; and

WHEREAS,
in order to facilitate his recommendation on July 27, 2000, the
Secretary of Education asked the University to develop an IPA; and

WHEREAS,
the University has developed an IPA according to the guidance provided
by the Secretary of Education;

RESOLVED
that the IPA is approved subject to further modifications during
the negotiation process with the Secretary of Education;

RESOLVED
FURTHER that the President and the Executive Vice President and
Chief Operating Officer are hereby authorized to amend the IPA during
the negotiation process in consultation with the members of the
Board of Visitors who also were members of the Governors Blue
Ribbon Commission on Higher Education.

Item
2.c. 14.

c. REPORT
ON ACTIONS OF THE EXECUTIVE COMMITTEE

The
Rector will report on the following actions taken by the Executive
Committee on July 14, 2000, and September 7, 2000:

1.
APPROVAL OF ARCHITECT SELECTION FOR THE

STUDIO
ART BUILDING

(Adopted
July 14, 2000)

RESOLVED
that Machado & Silvetti Associates, Inc. of Boston, Massachusetts,
is approved for the performance of architectural and engineering
services for the Studio Art Building.

2. APPROVAL OF UNIVERSITY OF VIRGINIA

MEDICAL
CENTER LEGISLATIVE PROPOSALS

(Adopted
July 14, 2000)

WHEREAS,
the Executive Committee of the Board of Visitors has reviewed proposed
legislative actions related to interest earnings on Medical Center
operating cash balances and increased autonomy for Medical Center
employee compensation and benefits, and procurement functions in
the Medical Center; and

WHEREAS,
the Executive Committee concludes that the proposed changes are
prudent and in the best interest of the University;

RESOLVED
that the Executive Vice President and Chief Operating Officer is
authorized to seek legislation accomplishing the above-described
purposes.

3. APPROVAL OF THE DISINVESTMENT OF MILLER

CENTER
GENERAL ENDOWMENT

(Adopted July 14, 2000)

RESOLVED
by the Executive Committee of the Board of Visitors that the disinvestment
of the Miller Center General Endowment, a quasi-endowment, be approved
and that the proceeds be applied to the Miller Center Addition and
Renovation project.

Item
2.c. continued15.

4.
CONFLICT OF INTEREST EXEMPTION

(Adopted
September 7, 2000)

WHEREAS,
the School of Medicine wishes to enter into a sponsored research
contract with EluSys Therapeutics, Inc., for developing technology
for the treatment of chronic Hepatitis C; and

WHEREAS,
Ronald P. Taylor, Ph.D. has disclosed in advance his equity interests
of 3.3 percent in EluSys Therapeutics, Inc.; and

WHEREAS,
the Universitys entry into a research agreement with EluSys
Therapeutics, Inc., would thereby expose Mr. Taylor to violation
of the Virginia Conflicts of Interests Act unless approved by the
Board as permitted by §2.1-639.6(c) (7) of the Code of Virginia;

RESOLVED that the conflict of interest of Ronald P. Taylor, Ph.D.,
is approved by the Board of Visitors in order to permit the University
to enter into an agreement with EluSys Therapeutics, Inc., for research
funding for the development of technology for the treatment of Hepatitis
C; provided, as required by the Virginia Conflict of Interests Act,
Mr. Taylor files the required annual disclosure statement of personal
interests in EluSys Therapeutics Inc., the University files the
required annual report concerning the contract with the Secretary
of the Commonwealth, and the relevant department chair vigilantly
oversees application of University resources in the best interests
of the University and in accordance with policy.

5. AUTHORIZATION TO AMEND THE FISCAL YEAR

2000-2001 ENDOWMENT INCOME DISTRIBUTION

(Adopted September 7, 2000)

RESOLVED
that the Executive Vice President and

Chief
Operating Officer is authorized to increase the Fiscal Year 2000-2001
income distribution of Class A shares from $89.39 to $90.56 per
share and Class B shares from $122.76 to $125.89 per share.

Item
2.c. continued, Items 2.d. and 2.e.16.

6. APPROVAL OF RENEWAL OF LEASE ON LOWER

APARTMENT,
PAVILION VIII

RESOLVED
by the Executive Committee of the Board of Visitors approves the
renewal of the lease on the Lower Apartment in Pavilion VIII, held
by Ms. Sarah Farrell, Assistant Professor of Nursing, for a term
of two years; the lease shall expire on July 31, 2002.

d.
APPROVAL OF THE DEMOLITION OF THE

OBSERVATORY
HILL DINING HALL

The
President will propose the adoption of the following resolution:

WHEREAS,
the Board of Visitors approved a project for the renovation of the
Observatory Hill Dining Hall, and

WHEREAS,
the bids let for the project have come in considerably over budget,
and

WHEREAS,
a new dining hall with more space and better siting can be built
for slightly more than the cost of renovating the building;

RESOLVED
that the Board of Visitors approves the demolition of the Observatory
Hill Dining Hall and the Tree House, which will be replaced by a
new facility.

e .APPROVAL
OF THE PLACEMENT OF A

FOUNTAIN
AT THE UNIVERSITY OF VIRGINIAS

COLLEGE
AT WISE

The
President will propose the adoption of the following resolution:

WHEREAS,
Dumlupinar University in Kutahya, Turkey has given The University
of Virginias College at Wise a fountain kiosk in commemoration
of the ties between the two institutions, and

Item
2.e. continued17.

WHEREAS,
the College and its Board propose that

the
fountain be erected on the plaza in front of Zehmer Hall;

RESOLVED
that the Board of Visitors approves the proposal to erect the fountain
from Dumlupinar University on the plaza in front of Zehmer Hall
at The University of Virginias College at Wise.